MBA1243 Must Read: Reinvent Yourself by James Altucher

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James Altucher is a successful entrepreneur, podcaster and angel investor. He's also the author of several books that have made the Wall Street Journal Bestseller list, including Choose Yourself which was a must read on this show a few weeks back. He's Also Co founded 20 companies, 17 which he's not ashamed to say, have failed. These experiences drove him to write this book and to reevaluate his approach to both business and life and share those insights with you. This book is a little quirky, but is actually quite insightful to show it. I mean, he discusses what Pope Francis and Eminem can teach us about the best ways to deal with suffering, how being broke can be a blessing in disguise, and how to wake up every morning with a sense of excitement for your day. James Alter has had a lot of experience in both business and life, success and failure, and he's very, very open about it. And he shares what he's learned along the way in this book. This is what I love about this book and what I want to share with you in today's episode experiences you just can't buy. I'll also be sharing my own takeaways and what I really got out of this book at the end. So let's get into it. Let's get down to business. Today's must read, Reinvent Yourself by James Altucher is all about how to redefine who you are, how to reflect and recalibrate what you want out of life. One of the things he starts the book with is talking about not letting your degree, your education, your job title define who you are. He really believes in finding mentors or people that can help you redefine yourself. You know, back in the day, it used to be pretty straightforward. You earned a degree, you landed a stable job, you saved up for a comfortable retirement, and that's really how it was for a very long time. But this road, this path has really become a thing of the past. And yet we're so entrained and so in the habit of going through the same motions. And what happens is that we pile up all this debt. Not only financial debt, but just time debt. We spend so much time working on something that we don't really want. But he also talks about the financial debt. We're walking contradictions constantly. We say, hey, we want to be free, we want to travel the world, and yet we tie ourselves up with a mortgage. And the reason why we do this is that we don't take the time to stop and reevaluate ourselves. What happens is that we define ourselves by our job, our career, and we think this is who we are forever, and we just go through the motions and we kind of just see it as sunk cost. Already spent, you know, 10 years doing this profession, I might as well just continue or all those 10 years are going to be a waste of time. He says, no, you have to evolve, you have to change. Those 10 years are not a waste. But even if they were, why waste another day? And James Altucher believes that you can get perspective and you can change paths when you have mentors, when you have some perspective, when you speak to People have been there, done that, and say, hey, life is too short. Don't make the mistakes I have. When you speak to the same people over and over, you surround yourself with the same people over and over. You're not going to change. You're not going to see any different perspectives. You're going to be in a safe zone where everybody just says, hey, keep your head down and keep doing what you're doing. And that's a good way to really get old quick. He says, you know, if you want to stay young, keep changing, keep reinventing yourself, keep being reborn. But one of the points I really liked about the book, he says when it comes to getting mentors or seeking out mentors, you have to seek them out. They're not just going to fall on your lap. He says, do what you got to do. Go to conferences, go to meetups, be social. We live in a world where we just want to be behind our computers or our phone screens. The point here he's making is it's going to take some effort if you want to meet some people doing extraordinary things or have an extraordinary story or experience in their life. He even goes as far as saying, if you have to go to another country to meet somebody that you want them to be your mentor, then you should do that. That's a good price to pay, he says. He says, if you don't want to age, keep learning, keep changing, keep improving. He says learning never stops. Many people die at 25, but not put in a coffin until they're 75. The learning stopped for them early. Don't let that be you. And I feel like the more I learn, the more I change, the more I reinvent myself, the more I try to improve myself, the more I feel alive. You know, I look back at the last five years of my life and most people say, oh, I wish I could go back and be that person back in the day, be young again. But if you're learning and changing and improving, you're gonna look back and say, I don't wanna go back there. I was an idiot back then. I was inexperienced. I didn't know what I know now. I didn't have the experiences I have now. So keep learning. One of the things he really stresses in this book is practicing your passion on a daily basis. He says, find it by thinking back to your childhood. What did you like to do in your free time when you were bored? Remember when you were bored? And he says, it doesn't have to be your full time job, this passion of yours, but you should do it every day. You should try to do something even if it's 30 minutes a day. And if you love it, it's going to be easy to do every day. He gives countless examples of like Picasso creating 50,000 pieces of his work, which is an average of two pieces per day. Jimi Hendrix recorded enough music to fill nearly 70 albums despite only living for 27 years. The point he is making is that if you want your passion to be a part of your life, you want to do it for a living. At some point you gotta get the reps in, you gotta get the repetition. And there's something about doing something every day that greatly improves your skills in an area. I can testify to that. When it comes to this show, this podcast, after recording over 1200 episodes, I could say this type of repetition really, really makes you better. Now, it doesn't mean that I can't improve. I still have more to improve, but I'm far better than I was when I first started. I can't even listen to the first hundred episodes of the $100 MBA show. It's cringe worthy for me at least, because I know how much I've progressed. But it's because of the daily repetition. It's because of, of getting to this point little by little. And he says that you don't even have to do this passion full time at the end of the day or in the future. It's just good to be doing something that is creative, that you enjoy every day and making it part of your life, it enriches your life. It made me think about some of the things I like to do as a child. I used to love cartooning. I used to love drawing. I gave it up around 1112 years old. But up to that point, it's something I used to do every day. I used to doodle in my notebooks at school, but I used to use my allowance to buy sketchbooks and colored pencils and things like that. But I totally, totally stopped doing that. I should probably get back into that, even if it's just to improve my note taking skills and just rekindle a passion. One of my favorite quotes in this book is people tend to think they are meant for something big in their lives, he says. I understand that. But to get to big, you have to focus on today, which is very little. Today is just one little chapter, one little paragraph, one little sentence in the story of your life. But if you do something today and the day after and that repetition on a daily basis, it becomes something big. It forms into an epic story. But you got to start with today. One of the chapters in this book is all about having a burning desire. And I was, like, saying amen the whole time during that whole chapter, because he stresses the idea that you have to want something really bad or you're just not going to get there. He says you're not going to overcome the obstacles that you're going to face. You're not going to conquer these obstacles. If you feel like it's not worth it or you fear failure, you need to want it more than you hate failure. When I say you have to want it more. It could be anything. And I always say that success could be it. It doesn't have to be, like, an actual number or I want to be a bestseller or want to be a billionaire or whatever, but. But just feeling successful in your life, feeling like you've made it, feel like you're doing something that you're proud of, wanting to be a winner. That alone can drive you. If you want that bad in your life, you're going to get over the obstacles. You're going to get over the bad days. You're going to get over the failures that are due to happen. They have to happen. They're our rite of passage. Like we talk about on the show. He says making it or being successful is not about launching a rocket to Mars or making a billion dollars. It's about not letting anyone tell you that you can't. It's taking control over your own results. There's another insight about being broke that is very interesting. Financially broke. He says, if you ever fall on financial times, use it as fuel to get out of it. Being low on funds, not having enough money to pay your expenses, or even live the lifestyle that you feel like should be a standard in your life is very uncomfortable. It's very disappointing. You need to use that steel and say, no more. I need to get out of this situation. This is only temporary. I got to get out of this. And he finds it incredibly important that you don't fall in the mentality that, I am a poor person. I am somebody who's always broke. Because then you have the mentality of poverty, which is the worst thing you can have, he says. He says being broke is temporary, but poverty of the mind is permanent. You have to avoid poverty of the mind at all costs. A lot of people just tell themselves a story where, like, I'm just going to be poor all my life. I'm not going to always have enough money. I'm always going to be paycheck to paycheck. If you tell yourself a story, you will believe it, he says. Use your temporary financial problems as a driving force to get out of this temporary situation. But that can't happen if you don't convince yourself this is temporary, that this is not who you are. This doesn't define you.

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Must Read Reinvent Yourself by James Altucher in today's fast paced world, the only constant is change. So you have to change with it. You have to reinvent yourself constantly. The world is totally different than it was 20 years ago. So what you thought you should be 20 years ago doesn't ring true anymore. It doesn't equal success anymore. To succeed in such a world, you must master the art of reinventing yourself. Re evaluating yourself, being surrounded with people that can give you perspective, having the right daily habits and not wasting your time just because you wasted time in the past. Sunk cost fallacy is huge where people just feel like, hey, I've wasted 10 years of my life. This is who I am now. It's too hard to change the course. No, you can change course. Several people, including me, the person talking to you right now, have changed course in their life several times and sometimes it wasn't for the best. Maybe I changed course and it was a mistake, but that's okay. I can change again. Reinventing yourself really means taking control of who you are and what you become. I highly recommend you pick up this book. It's an easy read. James Altucher is a very friendly person and writes in a very personable way. I'd also check out his podcast, the James Altucher show, which has over 50 million downloads and been running for years now, and it'll give you a taste or a flavor of who he is as a person. Thank you so much for listening to the $100 NBA show. If you love what you hear, hit subscribe right now on whatever you're using right now to listen to this podcast. Whether it's Spotify or Stitcher Radio or Apple Podcasts, we're on them all. By hitting subscribe, you automatically get the next episode on your device. It's ready for you when you're ready to listen. That's it for me today guys. But before I go, I want to leave you with this. One of the things I learned in the last few years is that you can't relax for too long in life. You can't just continue to do the same thing for a long period of time. You have to constantly reevaluate yourself and see how you can improve, see how you can change, see how you can learn, how you can evolve. And the fact is, is that people that just quote unquote retire don't do much. Take a break, check out. They're miserable. They don't feel good about themselves because they're not improving. And as human beings, it's just our nature to want to become something better, to evolve. So just keep that in mind. It's okay to take a break, but not for too long. Alright, I'll check you in tomorrow's episode. I'll see you then. Take care. Of.

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